Arthur J. Gallagher & Co. (NYSE:AJG) Price Target Raised to $308.00

Arthur J. Gallagher & Co. (NYSE:AJG) had its target price boosted by Barclays from $300.00 to $308.00 in a report published on Thursday,Benzinga reports. They currently have an equal weight rating on the financial services provider’s stock.

A number of other analysts have also recently issued reports on the stock. BMO Capital Markets lifted their target price on shares of Arthur J. Gallagher & Co. from $312.00 to $325.00 and gave the company an “outperform” rating in a research note on Tuesday, November 12th. Bank of America boosted their target price on shares of Arthur J. Gallagher & Co. from $271.00 to $293.00 and gave the stock an “underperform” rating in a research report on Thursday, October 10th. Wells Fargo & Company raised their price objective on shares of Arthur J. Gallagher & Co. from $309.00 to $315.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. The Goldman Sachs Group upped their target price on shares of Arthur J. Gallagher & Co. from $272.00 to $286.00 in a research note on Friday, July 26th. Finally, Truist Financial lifted their price objective on Arthur J. Gallagher & Co. from $265.00 to $275.00 and gave the company a “hold” rating in a report on Friday, September 20th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $289.71.

Arthur J. Gallagher & Co. Price Performance

Shares of AJG opened at $304.29 on Thursday. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.06 and a quick ratio of 1.06. The company has a market capitalization of $66.76 billion, a price-to-earnings ratio of 57.96, a P/E/G ratio of 2.58 and a beta of 0.72. The business’s 50-day moving average is $288.55 and its 200-day moving average is $277.18. Arthur J. Gallagher & Co. has a fifty-two week low of $218.63 and a fifty-two week high of $308.00.

Arthur J. Gallagher & Co. (NYSE:AJG) last issued its earnings results on Thursday, October 24th. The financial services provider reported $2.26 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $2.26. Arthur J. Gallagher & Co. had a net margin of 10.40% and a return on equity of 19.12%. The company had revenue of $2.77 billion during the quarter, compared to analyst estimates of $2.78 billion. During the same quarter last year, the business posted $2.00 EPS. The company’s revenue for the quarter was up 12.8% on a year-over-year basis. Equities research analysts expect that Arthur J. Gallagher & Co. will post 10.12 EPS for the current fiscal year.

Arthur J. Gallagher & Co. Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.79%. Arthur J. Gallagher & Co.’s payout ratio is currently 45.71%.

Insider Activity at Arthur J. Gallagher & Co.

In related news, President Michael Robert Pesch sold 7,100 shares of Arthur J. Gallagher & Co. stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $296.20, for a total transaction of $2,103,020.00. Following the transaction, the president now owns 33,267 shares of the company’s stock, valued at $9,853,685.40. This trade represents a 17.59 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Christopher E. Mead sold 2,800 shares of the company’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $287.00, for a total transaction of $803,600.00. Following the completion of the sale, the vice president now directly owns 14,674 shares of the company’s stock, valued at $4,211,438. The trade was a 16.02 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 23,900 shares of company stock worth $6,892,280 over the last 90 days. Insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On Arthur J. Gallagher & Co.

Institutional investors and hedge funds have recently made changes to their positions in the company. W Advisors LLC increased its holdings in shares of Arthur J. Gallagher & Co. by 2.4% in the third quarter. W Advisors LLC now owns 1,514 shares of the financial services provider’s stock worth $426,000 after acquiring an additional 36 shares in the last quarter. Miracle Mile Advisors LLC boosted its stake in Arthur J. Gallagher & Co. by 0.8% in the 3rd quarter. Miracle Mile Advisors LLC now owns 4,583 shares of the financial services provider’s stock worth $1,289,000 after purchasing an additional 38 shares during the period. Covenant Partners LLC raised its stake in shares of Arthur J. Gallagher & Co. by 0.7% in the 3rd quarter. Covenant Partners LLC now owns 5,326 shares of the financial services provider’s stock valued at $1,499,000 after purchasing an additional 38 shares during the period. Disciplined Investments LLC boosted its position in shares of Arthur J. Gallagher & Co. by 0.7% during the third quarter. Disciplined Investments LLC now owns 5,849 shares of the financial services provider’s stock worth $1,635,000 after buying an additional 38 shares during the period. Finally, Seelaus Asset Management LLC grew its holdings in shares of Arthur J. Gallagher & Co. by 0.7% during the third quarter. Seelaus Asset Management LLC now owns 5,481 shares of the financial services provider’s stock worth $1,542,000 after buying an additional 38 shares in the last quarter. Institutional investors and hedge funds own 85.53% of the company’s stock.

Arthur J. Gallagher & Co. Company Profile

Arthur J. Gallagher & Co, together with its subsidiaries, provides insurance and reinsurance brokerage, consulting, and third-party property/casualty claims settlement and administration services to entities and individuals worldwide. It operates in Brokerage and Risk Management segments. The Brokerage segment offers retail and wholesale insurance and reinsurance brokerage services; assists retail brokers and other non-affiliated brokers in the placement of specialized and hard-to-place insurance; and acts as a brokerage wholesaler, managing general agent, and managing general underwriter for distributing specialized insurance coverages to underwriting enterprises.